34 Kings Blvd · Leesburg, FL 34748

$45,000

2 bd · 2.0 ba · 1,152 sqft · SingleFamily · 218 Days on market

↓ 22% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

MOVE IN READY! Located in Corley Island MHP, retirement community beautiful secluded community, 1/2 mile from Lake Harris chain of lakes, bring your boat plenty of storage. 1152sqft Remodeled, open floor plan, great for entertaining. ! Walk in and double closets both bedrooms, extra large master bedroom. This home has plenty of storage! LOT RENT. . $569.00 mth include water sewer trash mowing and amenities. .. . Billiards, Clubhouse, Clubhouse WiFi, Laundry Facilities, Library, Motorcycles Allowed, Pets Allowed, Planned Activities, Pool, RV/Boat Storage, Shuffleboard

Key facts

• Close to lake harris
• Remodeled
• Clubhouse

Tags

• CLOSE TO LAKE HARRIS
• REMODELED
• MOVE IN READY
• POOL
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $997 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 32.9% vs local median 4.5% in Leesburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 62/100 on livability (#751 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D, amenities F.
• Lake (suburban): math 49% / reading 50% proficiency, ranked #37 of 73 in FL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.9%/yr); 783 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• This rent runs 34% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 218 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 218 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 3.68% ✓
• Cap rate: 32.88%
• Cash-on-cash: 94.94%
• DSCR: 5.22
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $266,112
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29385 Caspian St	0.32mi	3/2.0 (+1)	1,288 (+12%)	1mo	$270,000	$210	59
29239 S Corley Island Rd	0.54mi	3/1.5 (+1)	1,258 (+9%)	1mo	$291,000	$231	52
28815 Hubbard St	0.71mi	3/1.0 (+1)	1,226 (+6%)	18mo	$140,000	$114	32
4326 Magnolia Ave	0.64mi	3/2.0 (+1)	1,265 (+10%)	22mo	$292,000	$231	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 92.4%
• Equity multiple: 5.08×
• Total profit: $51,373
• Equity at exit: $6,710

10-year hold

• IRR: 94.6%
• Equity multiple: 9.56×
• Total profit: $107,843
• Equity at exit: $3,891

Cash invested: $12,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34748

• Home prices YoY: -25.3%
• Rents YoY: -0.9%
• Active inventory: 783
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,656 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $997

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 35%

Sensitivity live

Price	-10% $1,028	-5% $1,012	+0% $997	+5% $981	+10% $966
Rent	-10% $866	-5% $931	+0% $997	+5% $1,062	+10% $1,128
Rate	-1.0pp $1,020	-0.5pp $1,008	base $997	+0.5pp $985	+1.0pp $973

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3732 Shoveler Ave Leesburg, FL	3.0	2.0	1484	$1,890	$1.27	24d	1	0.35mi
1403 Old Harbor Blvd Leesburg, FL	1.0–4.0	1.0–3.0	1079	$1,366	$1.27	3d	9	1.07mi
1401 Floradel Ave Leesburg, FL	2.0	1.0	1190	$1,495	$1.26	4d	1	1.46mi
1317 Cambridge Dr Leesburg, FL	3.0	1.5	1240	$1,600	$1.29	24d	1	1.47mi

Listing history 17 events

1. 2026-06-18
   days on market $45,000 Active 218 DOM
2. 2026-06-17
   days on market $45,000 Active 217 DOM
3. 2026-06-16
   days on market $45,000 Active 216 DOM
4. 2026-06-15
   days on market $45,000 Active 215 DOM
5. 2026-06-13
   days on market $45,000 Active 213 DOM
6. 2026-06-09
   days on market $45,000 Active 209 DOM
7. 2026-06-08
   days on market $45,000 Active 208 DOM
8. 2026-06-07
   days on market $45,000 Active 207 DOM
9. 2026-06-04
   days on market $45,000 Active 204 DOM
10. 2026-06-03
    days on market $45,000 Active 203 DOM
11. 2026-06-02
    days on market $45,000 Active 202 DOM
12. 2026-06-02
    days on market $45,000 Active 201 DOM
13. 2026-05-31
    days on market $45,000 Active 200 DOM
14. 2026-03-11
    price $45,000
15. 2026-02-08
    price $49,500
16. 2026-01-21
    price $54,000
17. 2025-11-12
    listed $57,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,866
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,589
• − Management: −$1,589
• − Depreciation: −$1,309
• Taxable income: $11,958
• Est. tax owed @ 24.0%: −$2,870
• After-tax cash flow: $9,093/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lake
• NCES district ID: 1201050
• Math proficiency: 49% ▼ -7.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $46,632
• Composite: 42.05/100
• National rank: #3327
• State rank: #37 of 73 in FL

Livability — Leesburg

• Score: 62/100
• State rank: #751
• US rank: #16429

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment F Housing A+ Health & safety F User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 364,602 people
• City population: 70,232
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 48,095
• Household income: $58,192
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 1745.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 386,640 people
• By 2030: 417,107 · +7.9%
• By 2040: 476,676 · +23.3%
• By 2050: 531,296 · +37.4%
• By 2075: 648,303 · +67.7%
• By 2100: 698,530 · +80.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 16% Hispanic / Latino 15% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam, Jamaica
• Languages at home: 88% English-only · Spanish 10% French/Haitian/Cajun 1%

Political lean MEDSL · Lake

• 2024 margin: Strong R (+24.7) · D 37.3% · R 62.0%
• 2008→2024 swing: -11.2pp toward R · 2008: -13.5pp · 2024: -24.7pp
• All cycles: 2024: R+24.7 2020: R+20.0 2016: R+23.1 2012: R+17.1 2008: R+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.97%
• Current HPI: 262.1766
• Rent YoY: ▼ -0.95%
• Metro: Orlando-Kissimmee-Sanford, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-21.7% since first listed

4 events — show timeline

• 2026-03-11 Price Changed $45,000 ForSaleByOwner.com
• 2026-02-08 Price Changed $49,500 ForSaleByOwner.com
• 2026-01-21 Price Changed $54,000 ForSaleByOwner.com
• 2025-11-12 Listed $57,500 ForSaleByOwner.com